Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

With enough knowledge you can make a educated decision on which approach you take.My experience:I personally don't sign up for any program who take you aside during events and try to sell packages that is just blatant sales strategy.Once you sign up there is every attempt to make you sign for their programs for bookkeeping, registered agent, LLC or corp setup fee which have ridiculous even with platinum membership.Basic standard structure they suggest to take advantage of multiple deductions can be easily achieved by proper education or work with a good firm like https://wcginc.com  who is local to you.A umbrella C-crop to manage all other LLC properties and take advantage of many tax deductions that are not available with a llc, its also used to take losses up to 100K as startup expenses and dissolve the entity after few years.Few LLC entities for investing in Real Estate, etc preferably in Wyoming or Nevada ( you can find many companies online who can do this for $150 compared to anderson $1500-$3000) , they will claim they have a secret Operating agreement which is bogus.They certainly try to take advantage of tax loopholes and claim to be smart people, my view they are just taking advantage of numbers as per their own statements.

Usually, when a new client approaches me with a wish list, there are often only a handful of properties actively on the market that are genuine prospects, and these are usually the hottest listings in any market.

Quote from @Sean Barnebey: This is an interesting opportunity, and it sounds like you’re approaching it wisely by considering the numbers carefully.

Honestly your approach may be a bit rough around the edges, but actually getting out there and trying to find deals through grit and hard work is the best way to start.

Have you approached the current owner of the car washes to see how much they want in a sale?

Sounds like a good approach @Jeremy Jareckyj!

Are there better markets or hybrid approaches I should consider (e.g., smaller multifamily properties that accept Section 8 tenants)?

Most people with lots of money have a higher chance of being audited anyway.4) The government does not hate bitcoin, it has been adopting a wait and see approach but I encourage you to read actual government statements like the one released today by the SEC chief on ICOs.

I appreciate the structured approach you've outlined for getting started in real estate investing.